Resolve Riffs Investment Podcast

Today’s guest produces the Breakingthemarket blog, which exploded onto the scene in spring of last year, spewing shrapnel at traditional beliefs about investment objectives and portfolio construction. Borrowing key concepts from Ed Thorpe and the Ergodicity Economics community, Matt  - who would like to remain anonymous for now – builds portfolios that focus on maximizing geometric returns by comb...

This week we interview Andrew Miller, CIO of Miller Financial Management. Andrew’s passion is at the intersection of investment management and financial planning, and he has extremely novel perspectives on both domains. We trace Andrew’s background in structured credit and alternatives and map this experience to his current framework for thinking about diversification and sources of risk and retur...

This is “ReSolve’s Riffs” – live on Youtube every Friday afternoon to debate the most relevant investment topics of the day. Most pension plans and other institutional investors with long-term liabilities are faced with an enormous mismatch between the return assumptions in their actuarial models and the combination of sky-high equity valuations and rock-bottom bond yields. Some have chosen to add...

This is “ReSolve’s Riffs” – live on Youtube every Friday afternoon to debate the most relevant investment topics of the day. The recent pandemic-led selloff has once again highlighted the importance of having ballast in portfolios to deal with extreme equity volatility – and ultimately protect investors from disastrous outcomes. This week we discussed: Whether bonds can continue to provide protect...

Jason Buck is a founding partner of Mutiny Fund, an asset management firm with a vision to make high-quality tail hedging solutions available to a wider community of investors. Their fund aggregates managers with different tail-hedge styles, including options strategies, VIX relative value, and short-term trend traders to manage tails of all shapes and sizes. We cover: Why tail risk is best manage...

Adam and Pierre focus their discussion on diversification as a combination of "diversity" and "balance". Diversity is about holding investments that are designed to thrive in very different market environments, and for different reasons. Balance has the objective of ensuring that investments are all able to express their unique personalities. Risk parity is the ultimate expression of diversificati...

This is “ReSolve’s Riffs” – live on Youtube every Friday afternoon to debate the most relevant investment topics of the day. We were joined this week by our friends Wes Gray (Alpha Architect) and Tobias Carlisle (Acquirers Funds) to discuss value investing, its prolonged winter and how it has fared in the current environment. This broad conversation includes: How value has historically outperforme...

In this wide-ranging discussion, Logica's Mike Green describes a mosaic of ways to "seek out a straddle", and reveals new data and analysis to help flesh-out his thesis on the growing importance of systematic passive flows to U.S. stocks. Mike makes a persuasive and disturbing case for how a series of regulatory changes driven by economic and political objectives have corrupted the equilibrium and...

This is “ReSolve’s Riffs” – live on Youtube every Friday afternoon to debate the most relevant investment topics of the day. On our second episode, we invited our good friend Corey Hoffstein (Newfound Research) to analyze the roller-coaster experienced by equity investors in the past 3 months and discussed: the disconnect between the equity rally and the pain in the broader economy the companies a...

Join us for our inaugural episode of the “ReSolve Riffs” series where the team will go live on Youtube every Friday at 3pm over cocktails to discuss topics that are in the immediate zeitgeist of the investment world. In this episode we cover the very heated tail protection debate. The team discusses the challenges with different types of tail protection implementations including: the difficulty in...

How long will the recession last? How deep will it be? What are the long-term implications for the economy, markets, and society? The global pandemic has ushered in a period of extreme uncertainty and investors are left with too many unanswered questions and afraid for their portfolios. Where do we go from here? In this episode, the ReSolve team begins with an examination of some of the macroecono...

The idea that mainstream media could, to some degree, pursue the agenda of powerful groups might have been dismissed as conspiracy theory in the past. But over the years much has changed in how we perceive and interpret the flood of news and data-bits that compete for our attention each day, forcing us to seek out ways to distill the noise in search of something closer to the truth. Gestalt Univer...

This episode of Gestalt University could not be timelier, having been recorded two weeks prior to the current market correction that began in late February 2020. The discussion of fragile versus robust approaches is especially important given how recent volatility has led simpler tactical strategies to signal a complete shift away from equities and towards cash. This in turn has left practitioners...

Chris Schindler’s journey really took him all the way down the rabbit hole. He joined the Asset Liability Group at Ontario Teacher’s Pension Plan in 2000 and soon became one of the founding members of the newly formed Tactical Asset Allocation Group.   Most of his 18 years at Teachers’ were spent exploring and developing quantitative tools and strategies to optimize portfolio allocations. An early...

For the quant community, it was arguably the most awaited book of 2019. Finally, a peek behind the curtains into the most successful hedge fund manager in history. The +66% average (gross) returns that Jim Simons and his army of data scientists produced over the last 17 years in their Medallion fund captured the imagination of investors across the globe and their obsessive secrecy just added to th...

As fees across the world of financial services have decreased over the last few years, the former quotas and commission-based model under which investment advisors operated sounds like a relic of a bygone era. Back then, advisors were not in the business of providing services such as estate or tax planning, let alone financial education. Mike Hirthler, of Jacobi Capital, was a pioneer and an innov...

In this episode Adam Butler and Rodrigo Gordillo host ReSolve's Head of Quantitative Research, Andrew Butler to discuss how ReSolve employs tools from the field of machine learning to produce meaningful and practical improvements in investment outcomes. We start with Andrew's background in applied mathematics and in particular his experience applying ML tools to solve complex real-world problems i...

Social media has democratized access to media, providing Wealth and Asset Managers with an unprecedented opportunity to capture investor mindshare via digital marketing. Tune in and listen as Mike Philbrick, ReSolve’s President hosts an epic digital marketing roundtable discussion with experts in the field of digital marketing for Asset and Wealth Managers – Chadd Weston and Simon Jalbert from Tra...

Let’s face it – Meb Faber is everywhere, and he’s built an asset management business from scratch with a very unconventional approach. I wanted to take a look back at that journey to get some perspective on the good, the bad, and the ugly along the way. Meb shared some interesting stories and surprised me with some of the lessons learned. Meb has launched a really thoughtful and unique family of E...

Academics and practitioners are no longer surprised by the existence of the low volatility anomaly. Many papers have been published in credible journals describing the effect and several explanations have been proposed. But most of the explanations seek to preserve the traditional relationship between risk and return that serves as the fundamental basis of modern economics. Eric Falkenstein turns...

You can’t read, watch or listen to Rob Carver for any length of time without recognizing that he has done a lot of thinking about the problem of uncertainty. Traders will connect with Rob’s story of experiencing a large and unexpected loss (is there another kind?) that led him to question whether his models were in sync with the current market environment. The experience contained a silver lining,...

When asked about his past, what Larry Swedroe really wanted was to work with the New York Yankees. That dream died when CBS sold the Yankees to George Steinbrenner on January 4th, 1973. But another door opened at the same time that would forever change the trajectory of Larry’s life. As CBS was selling the Yankees, the collapse of the Bretton Woods Agreement had unleashed a maelstrom of volatility...

Mark Kritzman graduated with a business degree in a time of intense crisis and change in financial markets, and this experience shaped the arc of his career. He has dedicated his professional life to the study of asset allocation and portfolio optimization and his papers on these and other topics have earned over a dozen top awards in finance, including nine Bernstein/Fabozzi/Levy Awards. This con...